Last week, the price of Litecoin was in a bullish trend zone. The crypto’s price had been fluctuating above the $30 price level since January 14. On January 19, the bulls took price to the high of $33 and commenced a range bound movement above the 12-day EMA and the 26-day EMA. The crypto’s price was resisted at the $33 price level and the bears broke the 12-day EMA and the 26-day EMA. The crypto’s price fell to a low of $ 30.88.

The price of Litecoin is below 12-day EMA and the 26-day EMA which indicates that the crypto is likely to fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the stochastic is in the oversold region but below the 20 % range which indicates that the crypto is in a strong bearish momentum and a sell signal.

On the 1-hour chart, the price of Litecoin was in a bearish trend zone. On January 20, the bears broke the 12-day EMA, the 26-day EMA and price fell to the $30.60 price level. The crypto’s price made a bullish movement to the EMAs and it was resisted by the 12-day EMA.

The crypto’s price is falling because it is below the 12-day EMA and the 26-day EMA. Meanwhile, the stochastic is in the overbought region but below the 60 % range which indicates that the crypto is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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